BAS arbitrage explained
Right now BNB Attestation Service (BAS) trades on 5 venues we scan: 5 perpetual markets, 3 spot markets and 0 DEX pools. The lowest ask is on KuCoin spot at $0.0226 and the highest bid on MEXC perp at $0.0227.
The widest BAS perpetual spread is between Gate and Binance: long BAS on Gate at $0.0226 and short on Binance at $0.0227 for +0.17% gross, or +0.01% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is 0.000% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best BAS route is to buy spot on KuCoin and short the perpetual on Binance: +0.18% gross, -0.02% net, with +0.030% a day of funding on the short leg.
Spot–spot BAS arbitrage (buy on KuCoin, withdraw, deposit and sell on Gate) shows -0.06% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.
Small BAS gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.
Related: BAS funding rates · BAS spread charts · BNB Attestation Service price · arbitrage scanner for all coins.